Monday, January 26, 2015

Russian Foreign Debt Fell $130 Billion in 2014 - Russia Insider

Russia's overall foreign debt fell by nearly $130 billion in 2014, Central Bank data showed on Tuesday, with total debt standing at $599.5 billion on Jan. 1, 2015.

Foreign debt has been falling rapidly in recent months as companies pay off foreign loans. Western sanctions imposed over the Ukraine conflict are making it harder for them to borrow abroad and refinance their debt.

However, much of the decline was a nominal effect. The ruble's devaluation has reduced the dollar value of foreign debts denominated in rubles.

Foreign exchange reserves have also been falling rapidly, declining last year to $385.5 billion from $509.6 billion.

The Central Bank said external debt of companies and banks at the start of 2015 stood at $547.6 billion, down from $651.2 billion a year earlier and from $659.4 billion on July 1.

Complete story at - Russian Foreign Debt Fell $130 Billion in 2014 - Russia Insider

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